Advice for a Credit Score under 600
- By websnips
- On 03/12/2016
In this video viewers can learn what credit cards they can apply for with a credit score under 600. The credit score in this video is specifically 574 and generally a score that low has been through a bankruptcy or some other financial issues. It's possible for consumers to experience a score this low as a result of financial emergencies, judgements, or chargeoffs as well.
Consumers looking for credit cards that will help increase your current subpar 600 score would be high APR credit cards, secured credit cards, or prepaid credit cards. Credit card issuers that specialize in these types of cards are banks like Orchard Bank, Credit One Bank, and First Premier Bank.
These financial institutions offer unsecured and secured credit cards. These cards have APR's as low as 7.90% APR for a secured card and as high as 36% on an unsecured credit card. Most secured cards have a mandatory annual fee typically between $59 and $99 which is billed monthly to your account.
Any card you choose should report your spending to all 3 credit reporting agencies.
It's also easy to manage your account online with online account features. Users can login to their credit card account such as at vervecardinfo center and view all of their account transactions and make payments online.